The depreciating value of older cars may account for why Avon's Grand List did not increase by as much in 2012 as the .
That being said, the 2012 Grand List – representing the combined total of all taxable property town up to Oct. 1, 2012 – amounted to $2.69 billion in total, marking a $21.18 million, or .79 percent, increase over 2011.
Avon Assessor Harry DerAsadourian sent Town Manager Brandon Robertson a summary of the Grand List on Jan. 31. He told Patch that the Grand List will provide about $543,000 in additional revenue to the town based on the current 25.65 tax rate, also known as the mill rate.
So, DerAsadourian remains optimistic.
“Given the economonic climate, any increase is a good sign and the fact that we had healthy growth in real estate is a sign that I believe we’ve turned the corner," DerAsadourian said, also noting the growth in taxable personal property.
Real estate values, which make up the largest portion of the Grand List, showed $22.08 million growth, or .91 percent, in 2012 to reach a total of $2.44 billion.
Many large homes went up in Avon this past year, though DerAsadourian described it as "consistent" with past years. Construction of The Fresh Market and 45 Nod Road office building were also major players in real estate growth.
Personal property values jumped $3.2 million, or 4.23 percent, to $78.81 million. DerAsadourian credits The Fresh Market specialty grocer for part of that growth. Connecticut Light & Power is also taxed for its utility poles, transformers and power lines in Avon. DerAsadourian said that upgrades to CL&P's utility "distribution system" factored into the increase in taxable personal property.
“There was a lot of upgrading due to storm damage" from the 2011 October snow storm, he said.
Motor vehicle values were the only facet of the Grand List that decreased from 2011. That category, amounting to $169.53 million, dropped by $4.1 million, or 2.36 percent.
While DerAsadourian said that used car values held their values for a few years but depreciated last year. Meanwhile more 2012 and 2013 cars were sold.
“That had an affect on our grand list because we had a lot of late model cars," DerAsadourian said.
Avon is one year away from its next revaluation.
“We are going to be doing a revaluation for the October 2013 grand list and at that time we’ll be recalibrating all the values and assessments to reflect market values as of Oct. 1, 2013," DerAsadourian said.
While it's too early to predict next year's Grand List, DerAsadourian said, "I think the 2013 list will also be a positive sign to the economy."
For more information on the latest Avon Grand List, please see the attached PDF above.